posted 9.28 a.m. est Pre-open Tuesday 11th May Monday’s day session high was 1161.75.  As suspected ES is having a little trouble overcoming the 1161.50 resistance.  Value Area was higher and narrower on less volume although was well above average.  If ES can overcome that level and consolidate above it will be in a much […]

posted 9.28 a.m. est Pre-open Monday 10th May I’m not covering Sentiment or Supporting charts here – see webcast this a.m.  Market action pre-open today has made that a little redundant. Let’s concentrate on price and the important levels. Longframe: All major Market Timing charts are now red (negative) – not surprisingly; and no longer […]

posted 9.25 a.m. est Pre-open Friday 7th May Thursday pre-open: >>If ES finds itself below 1161.50 during today’s session it is in a weak position and I would anticipate it will be heading lower still<< ES spent a few minutes after the open above 1161.50 but that was rejected. The following three hours were spent […]

posted 6.05 a.m. est Pre-open Thursday 6th May Applying my rules very strictly I have to mark active Significant Buyers yesterday – but only just.  They Responded to a probe below the 1161.50 support.  Problem I have is that my #1 dayframe rule says I cannot now be short in this timeframe until Sellers are […]

posted 9.10 a.m. est Pre-open Wednesday 5th May Early in Tuesday’s session ES consolidated below the 1183.50 poc and then fell quickly towards the next level of support at 1161.50 (see Monday’s pre-open comment).  Pre-open today ES has edged down closer to that level reaching a low of 1162.50 as I write.  If the support […]

posted 8.55 a.m. est Pre-open Tuesday 4th May Yesterday’s comments are relevant. First Level Support at 1183.50 and First Level Resistance at 1202.5 pretty much capped the low and high on Monday so there was no clue to the strength of directional conviction from Buyers or Sellers.  Note that on Tuesday and Friday last week […]

posted 9.30 a.m. est Pre-open Monday 3rd May Last week I marked two instances of Significant Selling and no Significant Buying. This was the first Significant Selling in six weeks. As noted pre-open Friday, the poc (from the start of April) migrated to 1202.50.  Early in Friday’s session ES formed a lower intraday high at […]

posted 9.27 a.m. est Pre-open Friday 30th April Thursday’s Value Area was higher and narrower on reduced Volume.  Support (1/2R off Monday’s high) held shortly after the open and ES rallied from there.  The poc from the start of April has moved to 1202.50 and that is the First Level S/R today. Dayframe: The last […]

posted 9.25 a.m. est Pre-open Thursday 29th April Wednesday’s Value Area was overlapping/lower and narrower. Volume was less than Tuesday but still well above the 20dy average. Dayframe: If ES is going higher in the ST then the 1/2R from Monday’s high at 1196.50 (dotted) will likely provide support at some point on the intraday […]

posted 9.28 a.m. est Pre-open Wednesday 28th April Tuesday’s Value Area was lower and wider and volume was high.  I marked Significant Selling for the first time in nearly six weeks.  Initially there was support at 1183.50 but later in the day Sellers Aggressively (red-at-bottom) auctioned ES below that support. My #1 dayframe rule says […]